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ASP Isotopes closes acquisition of Renergen
ASP ISOTOPES INC.
(Incorporated in the State of Delaware,
United States of America)
(Delaware file number 6228898)
Ticker Symbol: NASDAQ: ASPI
ISIN: US00218A1051
LEI: 6488WHV94BZ496OZ3219
JSE Share Code: ISO
("ASPI" or "the Company")
ASP ISOTOPES CLOSES ACQUISITION OF RENERGEN
Combined Company Expected to Become a Global Critical Materials Provider Focused on High-Growth
Industries in Isotope and Helium Markets
Renergen Expected to Benefit from $750 million of Committed Debt Funding from the U.S. government's
Development Finance Corporation (U.S. DFC) and Other Lenders to Expand Helium Plant Production Capacity
Combined Company Expected to Target Cross-Sector Applications in Semiconductors, Quantum Computing, and Clean Energy
DALLAS, TX, Jan. 7, 2026 -- ASP Isotopes Inc. (Nasdaq: ASPI) has successfully closed its previously
announced acquisition of Renergen Limited, creating a combined company that is focused on the
production of critical isotopes and helium. This strategic acquisition integrates ASP Isotopes' advanced
enrichment technologies with Renergen's established helium and natural gas operations, positioning the
combined company to address escalating demand in high-technology sectors.
ASP Isotopes, with the acquisition of Renergen, is expected to become a global provider of liquid helium,
one of the most sought-after critical minerals globally. Renergen's key asset is the Virginia Gas project,
where significant Helium concentrations have been recorded. This project has benefited from $40 million
of US government funding pursuant to a finance agreement with the U.S. International Development
Finance Corporation (U.S. DFC) and is expected to further benefit from an additional $500 million of senior
debt funding from U.S. DFC and a $250 million debt facility from Standard Bank SA to expand plant
production capacity in South Africa. The U.S. DFC partners with the private sector to advance U.S. foreign
policy and strengthen national security by mobilizing private capital around the world.
"This acquisition establishes ASP Isotopes as a future provider of critical materials worldwide, poised for
substantial expansion in revenue streams and enhanced profitability," stated Paul Mann, Executive
Chairman of ASP Isotopes. "We are implementing a structured integration plan designed to yield
measurable long-term results, including anticipated synergies that will support our long-term growth
objectives."
"On behalf of the board, we are pleased with the successful completion of the business combination
between ASP Isotopes and Renergen," noted Paul Mann, Executive Chairman of ASP Isotopes. "We
anticipate the combined company will emerge as a leading global provider in the critical materials domain."
Paul Mann added, "In a market characterized by supply constraints and increasing consolidation, ASP
Isotopes maintains a defined strategic direction, supported by our innovative enrichment processes. Our
capabilities in isotope production, combined with Renergen's helium resources, offer distinct advantages.
This integration consolidates our operations, with the goal of delivering solutions for customers in
semiconductors, quantum computing technologies, and energy sectors."
Stefano Marani, Chief Executive Officer of Renergen and newly appointed President, Electronics and
Space at ASP Isotopes, commented, "The completion of this transaction marks an exciting new chapter,
combining complementary strengths to deliver enhanced supply chain stability for critical sectors, such as
semiconductors and electronics. This integrated platform positions us exceptionally well to capitalize on the
global demand driven by advancements in AI, quantum technologies, and clean energy."
ASP Isotopes intends to conduct a Virtual Investor Update at the end of January to present the combined
company, with details to be announced in the near future.
Inducement Grants
In connection with the closing of the acquisition of Renergen, the Company's Compensation Committee
approved inducement grants to two key employees of Renergen as a material inducement to employment
with ASP Isotopes following its acquisition of Renergen. The Compensation Committee approved the grant
to each of Stefano Marani (appointed as President, Electronics and Space) and Nick Mitchell, (appointed
as the Co-Chief Operating Officer) an aggregate of 700,000 shares of the Company's common stock.
Subject to each recipient being continuously employed by the Company through each applicable vesting
date, the shares will vest in eight equal instalments over four years, with 87,500 shares vesting on each of
the six-month anniversaries of each recipient's employment start date. The restricted stock awards are
made pursuant to the Company's 2024 Inducement Equity Incentive Plan and the Company's 2025
Inducement Equity Incentive Plan as an inducement material to each recipient entering into employment
with ASP Isotopes, in accordance with Nasdaq Listing Rule 5635(c)(4), and will be subject to the terms and
conditions of the applicable award agreements entered into between the Company and each recipient
thereof. The awards are intended to aid in the retention of the Renergen employees. The Company is
providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
ABOUT ASP ISOTOPES
ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of
technology and processes to produce isotopes for use in multiple industries. The Company employs
proprietary technology, the Aerodynamic Separation Process ("ASP technology"). The Company's initial
focus is on producing and commercializing highly enriched isotopes for the healthcare and technology
industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum
Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in
Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light
isotopes).
There is a growing demand for isotopes such as Silicon-28 for enabling quantum computing; Molybdenum-
100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as
well as Chlorine-37, Lithium-6, Lithium-7 and Uranium-235 for green energy applications. The ASP
Technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules.
For more information, please visit www.aspisotopes.com.
ABOUT RENERGEN
Renergen Limited is a producer of helium and liquefied natural gas, with primary operations at the Virginia
Gas Project in South Africa. The company provides essential resources for industrial and energy
applications. For more information, visit www.renergen.co.za.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions
of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead, they are based only on our current beliefs,
expectations, and assumptions regarding the future of our business, future plans and strategies,
projections, anticipated events and trends, the economy, and other future conditions. Forward-looking
statements can be identified by words such as "goal", "target", "believes," "plans," "anticipates," "expects,"
"aims", "intends", "estimates," "projects," "will," "may," "might," "seeks", "sees", "should," "would," "expect,"
"positioned," "strategy," and words of a similar nature. Examples of forward-looking statements include,
among others but are not limited to, statements relating to the completion of the transactions in the
anticipated timeframe or at all, the subsequent integration of ASP Isotopes's and Renergen's businesses
and the ability to recognize the anticipated synergies and benefits of the transactions, the access to
available financing (including financing in connection with the transactions) on a timely basis and on
reasonable terms, the plans for a secondary listing on the JSE, the plans for a spin-out of Quantum Leap
Energy as a standalone public company, the anticipated market demand for future products of ASP Isotopes
and Renergen, the future of the company's enrichment technologies as applied to uranium enrichment, the
outcome of the company's initiative to commence enrichment of uranium in South Africa and the company's
discussions with nuclear regulators, and statements we make regarding expected operating results, such
as future revenues and prospects from the potential commercialization of isotopes, future performance
under contracts, and our strategies for product development, engaging with potential customers, market
position, and financial results. Because forward-looking statements relate to the future, they are subject to
inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are
outside our control. Our actual results, financial condition, and events may differ materially from those
indicated in the forward-looking statements based upon a number of factors. Forward-looking statements
are not a guarantee of future performance or developments. You are strongly cautioned that reliance on
any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you
should not rely on any of these forward-looking statements. There are many important factors that could
cause our actual results and financial condition to differ materially from those indicated in the forward-
looking statements, including, but not limited to, risks related to: (i) integration of the Company's and
Renergen's businesses and the ability to realize the anticipated synergies and benefits of the acquisition of
Renergen; (ii) disruption from the acquisition of Renergen making it more difficult to maintain business and
operational relationships; (iii) the negative effects of the consummation of the acquisition of Renergen on
the market price of ASPI's securities; (iv) significant transaction costs and unknown liabilities; (v) litigation
or regulatory actions related to the acquisition of Renergen; (vi) the Company's inability to adequately
protect its intellectual property; (vii) the Company's inability to manage growth; and (viii) such other factors
as are set forth in the periodic reports filed by the Company with the U.S. Securities and Exchange
Commission (the "SEC"), including but not limited to those disclosed in Part I, Item 1A. "Risk Factors" of
the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, quarterly reports
on Form 10-Q, and in the company's other filings with the SEC. Any forward-looking statement made by us
in this press release is based only on information currently available to us and speaks only as of the date
on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether
as a result of new information, future developments or otherwise. No information in this press release should
be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-
looking statements herein are qualified by reference to the cautionary statements set forth herein and
should not be relied upon.
The Company has a primary listing on the Nasdaq and a secondary listing on the Main Board of the JSE.
7 January 2026
Sponsor
Valeo Capital Proprietary Limited
Date: 07-01-2026 03:30:00
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